What is an Epstein credit?
This is known as an Epstein credit, and it’s named after the 1979 California family law case of In re Marriage of Epstein. California Family Code section 2626 does not codify all that decision, but its wording supports Epstein.
What are Epstein credits in a divorce case?
The terms “Epstein credits,” “right to reimbursement,” and “credits” often come up during a divorce case, and refer to post-separation payments to benefit the community or other spouse. There is no automatic right to reimbursement or credits; however, they can have a significant impact on the division of assets and obligations.
What are Watts charges and Epstein credits?
Watts Charges and Epstein Credits Law and Legal Definition In a divorce case, Watts charges are a charge against a spouse’s share of community property made to reimburse the community for the value of his or her exclusive use of the property after separation.
Can Epstein credit issues go unresolved until trial?
Counsel who permit Epstein credit issues to go unresolved until trial create an additional complex issue for settlement and trial, expose his/her client to an unpredictable adverse trial decision, and expose the client to concomitant increases in attorney and other litigation fees. c.
What is the difference between Watts charges and Epstein credits?
Often, Epstein credits are offset by Watts Charges. Watts charges apply when only one person uses a piece of property such as the house after the separation but before the trial. Since both are entitled to the value of the use of the property, the spouse who enjoys full use owes the other spouse according to 50% of fair market value.
Who was Jeffrey Epstein’s billionaire client?
The only publicly known billionaire client of Epstein was Leslie Wexner, chairman and CEO of L Brands (formerly The Limited, Inc.) and Victoria’s Secret. In 1986, Epstein met Wexner through their mutual acquaintances, insurance executive Robert Meister and his wife, in Palm Beach, Florida.